Bonanza Creek Energy Inc (NYSE: BCEI)
Bonanza Creek Energy was off to an incredibly strong day in the market. When the opening bell rang, the stock made a quick run for the top. For the first hour of the trading session, we saw more of the same as the stock aggressively ran to further gains. Now, news is coming down the wire that the stock has been halted. Below, we'll talk about what we're seeing, why, and what we'll be watching for with regard to BCEI ahead.
What We're Seeing From BCEI
As mentioned above, Bonanza Creek Energy was off to an incredibly strong start to the trading session. When the opening bell rang, the stock found itself in the green. Shortly after the bell, the stock started on a mad dash toward the top; that dash might have continued if the stock hadn't been halted. At the moment (10:44), BCEI is trading at $1.20 per share after a gain of $0.22 per share (22.08%) thus far today.
Why We're Seeing What We're Seeing
As usual, our partners at Trade Ideas were the first to inform us of the run on BCEI. When they did, we started digging. It wasn't hard to find the reason the stock was headed up. After all, oil production cuts by OPEC and non-OPEC members have come into play.
Nonetheless, Bonanza Creek Energy was halted, and no news has been offered as to why. We know that news is pending, and we know that the news is likely big; but what the news is, well, that's simply not available at the moment.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BCEI. In particular, we're interested in learning what the news is that caused the halt is. Ultimately, the news could lead to massive movement in either direction. We'll keep a close eye on what's going up and provide you with real time updates!
Update - BCEI has reopened on a lower note. Still no news offered. We will update you as it breaks!
Update - BCEI bounces back up. Now trading above the halt!
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